Stocks that are making large moves like these are favorites among short-term traders because they can jump into these names and try to capture some of that massive volatility. Stocks that are making big-percentage moves either up or down are usually in play because their sector is becoming attractive or they have a major fundamental catalyst such as a recent earnings release. Sometimes stocks making big moves have been hit with an analyst upgrade or an analyst downgrade.

Regardless of the reason behind it, when a stock makes a large-percentage move, it is often just the start of a new major trend -- a trend that can lead to huge profits. If you time your trade correctly, combining technical indicators with fundamental trends, discipline and sound money management, you will be well on your way to investment success.

From a technical perspective, shares of FRO flirted with its 50-day moving average at $1.97 with decent upside volume. This stock has been uptrending modestly for the last few weeks, with shares moving higher from its low of $1.77 to its recent high of $2.09. During that move, shares of FRO have been making mostly higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of FRO within range of triggering a near-term breakout trade. That trade will hit if FRO manages to take out some near-term overhead resistance levels at $2.05 to $2.09 with high volume.

Traders should now look for long-biased trades in FRO as long as it's trending above some near-term support levels at $1.86 or above $1.80 and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.03 million shares. If that breakout triggers soon, then FRO will set up to re-test or possibly take out its next major overhead resistance levels at $2.55 to $2.62, or even its 200-day at $2.75. Any high-volume move above $2.75 will then give FRO a chance to trend north of $3.

Meru Networks

Meru Networks (MERU) provides a virtualized wireless LAN solution that optimizes the enterprise network to deliver the performance and operational simplicity of a wired network, with the mobility. This stock closed up 8.1% to $4.38 on Friday.

From a technical perspective, MERU trended higher here right off its 50-day moving average of $4.11 with lighter-than-average volume. This move is quickly pushing shares of MERU within range of triggering a near-term breakout trade. That trade will hit if MERU manages to take out some near-term overhead resistance levels at $4.40 to $4.62 with high volume.

Traders should now look for long-biased trades in MERU as long as it's trending above its 200-day at $3.84 and then once it sustains a move or close above those breakout levels with volume that hits near or above 261,217 shares. If that breakout triggers soon, then MERU will set up to re-test or possibly take out its next major overhead resistance levels at $5.50 to $6, or even $6.50.

Female Health

Female Health (FHCO) manufactures, markets and sells the FC2 Female Condom, which provides dual protection against unintended pregnancy and sexually transmitted infections, including HIV/AIDS. This stock closed up flat at $9.95 on Friday.

From a technical perspective, FHCO briefly spiked higher on Friday to $10.13 before closing flat with above-average volume. This stock recently formed a double bottom chart pattern at $9.31 to $9.32. Following that bottom, shares of FHCO have started to uptrend and move within range of triggering a major breakout trade. That trade will hit if FHCO manages to take out some near-term overhead resistance levels at $10.13 to its 52-week high at $10.21 with high volume.

Traders should now look for long-biased trades in FHCO as long as it's trending above some near-term support at $9.50 or above its 50-day at $9.28 and then once it sustains a move or close above those breakout levels with volume that hits near or above 114,256 shares. If that breakout triggers soon, then FHCO will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $12 to $13.

Callon Petroleum

Callon Petroleum (CPE) engages in the exploration, development, acquisition and production of oil and gas properties in the Permian Basin in West Texas, the Gulf of Mexico and the Haynesville Shale in northern Louisiana. This stock closed up 1.6% to $3.77 on Friday.

From a technical perspective, CPE trended modestly higher here right above its 50-day moving average of $3.59 with above-average volume. This stock has been uptrending for the last few weeks, with shares moving higher from its low of $3.19 to its recent high of $3.81. During that uptrend, shares of CPE have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of CPE within range of triggering a major breakout trade. That trade will hit if CPE manages to take out some key overhead resistance levels at $3.81 to $3.87 and then once it clears more resistance at $4 with high volume.

Traders should now look for long-biased trades in CPE as long as it's trending above its 50-day at $3.59 or above its next support level at $3.40 and then once it sustains a move or close above those breakout levels with volume that hits near or above 288,959 shares. If that breakout triggers soon, then CPE will set up to re-test or possibly take out its 200-day moving average at $4.55, or its next major resistance levels at $5 to $5.20.

General Moly

General Moly (GMO) is engaged in the business of the exploration, development and mining of properties mainly containing molybdenum in the U.S. This stock closed up 1.5% to $2.01 cents per share on Friday.

From a technical perspective, GMO spiked higher here back above its 50-day moving average at $1.96 with lighter-than-average volume. This move has started to push shares of GMO into breakout territory, since the stock cleared some near-term overhead resistance levels at $1.92 to $1.97. Shares of GMO are now starting to move within range of triggering another near-term breakout trade. That trade will hit if GMO manages to take out some key overhead resistance levels at $2.26 to $2.27 and then once it clears more past resistance at $2.40 with high volume.

Traders should now look for long-biased trades in GMO as long as it's trending above some key near-term support levels at $1.80 or above $1.76 and then once it sustains a move or close above those breakout levels with volume that hits near or above 287,595 shares. If that breakout triggers soon, then GMO will set up to re-fill its previous gap down zone from March that started near $2.80 If that gap gets filled, then GMO will have a shot at trending north of its 200-day moving average at $2.92.

At the time of publication, author had no positions in stocks mentioned.

Roberto Pedone, based out of Delafield, Wis., is an independent trader who focuses on technical analysis for small- and large-cap stocks, options, futures, commodities and currencies. Roberto studied international business at the Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany. His work has appeared on financial outlets including CNBC.com and Forbes.com. You can follow Pedone on Twitter at www.twitter.com/zerosum24 or @zerosum24.